The Peoples' Daily quoted China Economic Net as saying that the satellite is scheduled to be launched in 2017.
Juhuasuan.com announced plans to launch the satellite in cooperation with the China Academy of Launch Vehicle Technology and the China Space Museum.
According to the report, one example of benefit to consumers would be that the best and freshest vegetables would be available to consumers after cultivation and harvesting data is analysed by the satellite.
"In future, consumers on the Juhuasuan platform will be able to enjoy high-quality goods that follow the trajectory of the satellite," the site's general manager Liu Bo was quoted as saying.
Liu said the company aimed to develop a series of customised prooducts with the help of such satellites.
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